Navy Federal Credit Union Go Rewards credit card review

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The Go Rewards card from Navy Federal Credit Union may not offer the most generous travel rewards on the market. However, this credit union credit card is so well-priced compared to its competitors that you’ll be hard-pressed to find a safer or more affordable choice that still offers comparable rewards.

The Go Rewards credit card offers one of the lowest interest rates on the market, as well as the fewest fees of any travel rewards card we’ve reviewed. Its points rewards program is significantly less generous than many travel rewards cards on the market, dragging down the card’s overall ranking.  But if you’re content with modest rewards in exchange for a low rate, this card is worth a closer look.

Only cardholders who can qualify for a Navy Federal Credit Union membership are eligible. Membership is limited to active and retired military service members and their families.

Consumer-friendly pricing

The most compelling reason to apply for Navy Federal Credit Union’s Go card is its consumer-friendly pricing. The Go Rewards card charges cardholders with the best credit scores just 8.99% to carry a balance, which is one of the lowest rates you can get on a rewards credit card. Meanwhile, cardholders with lower scores are charged a maximum APR of just 18%.

It also doesn’t charge a balance transfer fee, annual fee or cash advance fee if you request your cash advance at a branch. Unlike most credit cards, the Go Rewards card doesn’t sharply increase your APR when you ask for an advance. Instead, the card’s cash advance APR is just two points above your normal interest rate.

The Go Rewards card also doesn’t charge cardholders a foreign-transaction fee – a big perk for families spending an extended time abroad.

Affordable rewards

The Go Rewards card’s rewards value isn’t stellar, but if you drive or eat out often, you can amass a sizable number of points – especially since earnings are unlimited on this credit union card. Navy Federal Credit Union offers cardholders three points for every dollar spent on restaurant purchases and two points for every dollar spent on gas. All other purchases earn one point for every dollar spent. If you spend roughly $1,325 a month, CreditCards.com estimates you’ll take home about $227 a year – not a bad haul for a card with such a low rate. You can earn substantially more per year with other travel rewards cards, but the card issuers will make you pay for those rewards with higher fees and APRs.

Some restrictions on redemption

Navy Federal Credit Union does impose some limitations that make redeeming your rewards for travel a bigger pain. So you may want to look elsewhere if you don’t want travel plans restricted. There are some travel blackout dates, so you’ll have to be flexible and plan ahead when you purchase rewards-funded travel. Like most rewards credit cards, Navy Federal Credit Union also makes you go through its site to redeem points for travel, so you may not always get the best deals.

Few cardholder perks

The benefits that Navy Federal Credit Union offers are also relatively limited, so you may not want to use this as your only card. The credit union card offers car rental insurance and standard card protections, such as fraud protection. But it doesn’t offer any other common credit card perks, such as emergency travel assistance, concierge service, price protection or an extended warranty on purchases.

Why get the Navy Federal Credit Union Go Rewards card?

• You spend a lot on gas and restaurant purchases.
• You want a card with a low rate, but also want some rewards.
• You plan to use additional card services – such as balance transfers, cash advances and foreign transactions – and so will benefit from the card’s consumer-friendly fee schedule.

How to use the Navy Federal Credit Union Go Rewards card:

• Use this card for all gas and restaurant purchases in order to maximize the card’s rewards.
• If this is your lowest-rate card, use it for any purchases you can’t afford to immediately pay off.

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